Foreign currency (FX) Trading

by **TFG** » Mon Dec 08, 2008 8:49 pm

They are talking DEEP like bottomless Pit.

by **TFG** » Thu Dec 11, 2008 8:09 pm

Well.the USD hit 91.85 Yen today and is even now hovering just at around 92.03.

I don't think it will be that much longer before we are looking at an 85 Yen rate or possibly even less.

by **TFG** » Thu Dec 11, 2008 9:46 pm

What fun, as long as we are on the right side of the fence.

by **IkemenTommy** » Fri Dec 12, 2008 2:21 pm

It looks like Jack is going to win the bet after all. It is below 90 atm.

by **FG Lurker** » Fri Dec 12, 2008 2:58 pm

Man, hit 88.14 before moving back up slightly but still at 89.82.

by **FG Lurker** » Fri Dec 12, 2008 3:29 pm

I'm guessing that the Senate not passing the auto industry bailout is what caused the dollar to tank.

If GM actually does file for Chapter 11 (which seems a lot more likely now than it did yesterday) this could get a lot worse very quickly.

by **TFG** » Fri Dec 12, 2008 4:03 pm

Hence, I was selling all the $ I could get my hands on this morning.

by **TFG** » Fri Dec 12, 2008 8:01 pm

Well, I am not only done for the day but probably for the year.
I rode the $ over 300 pips down this afternoon, 115 pips up later, and just for good measure another 50 pips down. Haaaaa

Life is all ups and downs...Thank the stars!

by **IkemenTommy** » Fri Dec 12, 2008 8:07 pm

TFG wrote:Well, I am not only done for the day but probably for the year.
I rode the $ over 300 pips down this afternoon, 115 pips up later, and just for good measure another 50 pips down. Haaaaa

Life is all ups and downs...Thank the stars!

So what does all that mean? How much money did you win/gain?

by **Charles** » Sat Dec 13, 2008 1:43 pm

TFG wrote:It is true I get off watching graphs go up and down, because that is what I do for a living.

I heard somewhere they invented some newfangled computer programs that will watch graphs for you.

by **TFG** » Sat Dec 13, 2008 3:23 pm

Charles wrote:I heard somewhere they invented some newfangled computer programs that will watch graphs for you.

Yes, they have Expert Advisers yet they are basically designed for a certain market environment, either a trending market or a ranging market.
When the market changes to a ranging market as it did since Sep 2008, you will get stopped out all over the place and it will jump in and make a trade that will turn around very quickly a bite you in the ass & vice versa.

I have tested many of these systems and they are not worth risking your account margin for, I use an EA simply to give me prior warning of a possible good entry into a trending market, that way I don't have to literally watch the charts all day. But, the decision to enter a trade or exit one must be done manually.

by **Jack** » Sat Dec 13, 2008 10:44 pm

Should I take a bow now or later? Yen closed at 91.25 after trading well below 90 for much of the day.

by **Mulboyne** » Sat Dec 13, 2008 10:59 pm

This thread is now closed.

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Foreign currency (FX) Trading

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